- Production Manager
- Assistant Professor - Controlled Environments Entomologist
- Technical Development Specialist | Horticulture | France
- Director of Business Development | Middle East | Agtech
- Farm/Production Manager; Berlin (m/w/d)
- Trader Asian Market
- Avocado Growing Manager - Kenya
- Operations Accountant
- Sales Manager for Nordic countries (H/F)
- Senior Breeder
Top 5 -yesterday
- What is the status of tomato brown rugose fruit virus in Europe?
- “Our ToBRFV-resistant variety has been preferred by our producers in wide areas since 2020"
- 2022 Year Overview: 10 stories on greenhouse expansion
- "Greek producers, who also purchase their plants from Spanish nurseries, have reported the same quality issue in strawberry plants as Spanish producers"
- New horticultural lighting technical requirements launched
Top 5 -last week
Top 5 -last month
- Zambia: "We produce 5,000 units of lettuce per week, per tunnel, year-round"
- UK growers stop planting and put nurseries on sale amidst energy crisis and labor shortage
- "You can't grow on water without lights"
- "High-tech farmer AppHarvest is running out of money"
- German family company switches from tomato cultivation to hydroponic lettuce
Canada: Canopy Growth solidifies New Brunswick expansion strategy
"New Brunswick has emerged as an excellent place to do business in the cannabis sector," said Bruce Linton, Chairman and CEO, Canopy Growth. "We will leverage our existing operational expertise and supplement what the team at Spot has already started so that we can get this facility up and running quickly, supporting local construction and trades to ensure we're making a meaningful contribution to the local economy."
The facility will operate under the Tweed brand and support the company's global operations with high quality, large scale cannabis production capabilities. The existing building and infrastructure is in excellent condition and includes almost 40,000 sq. ft. of dedicated production space. Once licensed, this initial footprint is anticipated to produce over 4,000 kg of dried cannabis annually. With the property appropriately zoned and suited for expansion to over 100,000 sq. ft., this location creates an ideal platform for future growth.
On behalf of Bird Holdings, the current owner of the facility, its President J.W. Bud Bird said, "We are pleased by the sale of our building and impressed with the major expansion initiatives that the new owner, Canopy Growth, has planned for the property. It is great to have an investment of such a magnitude coming to Fredericton's Industrial Park, and it should prove to be an important long-term source of jobs and economic activity for all of central New Brunswick."
Since originally announcing the intent to purchase the facility, Canopy Growth has been working diligently on amendments to the existing application to conform with the company's standardized infrastructure layout and operating procedures. Engineering plans and drawings have already been completed and construction on the facility should begin in October 2017. The facility is anticipated to be ready for licensing and production before the end of 2017.
Brian Neill, CEO of Spot commented, "We have been working for years to bring this new industry to Fredericton, and are proud to be joining forces with Canopy Growth and Tweed as we continue our journey towards an ACMPR license and the launch of a new cannabis platform in the Maritimes."
Under the terms of the transaction, shareholders of Spot will receive up to $2,250,000 in total consideration, less adjustments for all liabilities of Spot as of the closing date and certain payments to be made by Spot between closing and the second tranche payment. At closing, and in satisfaction of the first tranche payment of $1,000,000, Canopy issued 111,669 common shares to the shareholders of Spot. The second tranche payment will be satisfied by the issuance of additional common shares, subject to completion of certain licensing and operational milestones. Closing of the acquisition of the industrial building and property in Fredericton is anticipated to close in early September.
On August 25th, 2017, Canopy Growth received conditional approval from the TSX for the issuance of common shares in connection with this transaction.
For more information:
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Other news in this sector:
- 2022-08-24 Heart Research Institute looks at ways vegetables could treat strokes
- 2021-12-13 CAN: Companies seek approval for C-19 vaccine, using plants to express proteins needed
- 2020-04-10 Spain approves hiring 80,000 unemployed and immigrants to cover farm shortfall
- 2020-03-31 US (PA): Harrisburg University still running aquaponics lab, donating produce during virus outbreak
- 2019-04-01 HortiDaily starts MMJDaily.com
- 2019-03-25 Aphria shows automation in new video
- 2019-03-06 CEA Advisors forms new division focused on cannabis industry
- 2019-03-05 Denmark: Spectrum Cannabis ready for sale in autumn
- 2019-03-05 CA (BC): Cannabis grower gets permit for growing facility
- 2019-03-01 "I think the Netherlands can become the Champagne region of cannabis"
- 2019-02-27 Belgium takes first step towards legalization of medicinal cannabis cultivation
- 2019-02-25 Canada: 'World's largest indoor organic hemp CBD grower' setting up in Manitoba
- 2019-02-14 Sustainability and the cultivation of quality cannabis
- 2019-02-11 Canopy Growth to inject 30 million CDN in additional capital into Canopy Rivers
- 2019-02-08 US (CA): Cannabis Research Center to explore environmental, social impacts of legalization
- 2019-02-08 Humidity in cannabis cultivation
- 2019-02-01 MMJ exports get approval from Israel cabinet
- 2019-01-31 US: Cannabis company files bankruptcy
- 2019-01-28 "Victoria is the medicinal cannabis capital of Australia"
- 2019-01-28 Denmark: TGOD and Knud Jepsen complete cannabis joint ventures